Obama Defends Financial Overhaul

June 18th, 2009

Fault Lines Emerge as Industry Groups Blast Plan to Create Consumer Agency

Washington Post

Washington, DC – President Obama introduced his plan to reform financial regulations yesterday as a key to reviving the economy, setting up an intense battle over the particulars that is likely to rage on Capitol Hill for the rest of the year.

Legislators, regulators and advocates all welcomed the idea of change, but industry groups already are arguing that elements of the plan will hurt consumers or the broader economy, not to mention financial firms.

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